Zendesk, Inc. (NYSE:ZEN) Chairman Mikkel Svane sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $34.31, for a total value of $1,715,500.00. Following the completion of the sale, the chairman now owns 1,734,891 shares of the company’s stock, valued at approximately $59,524,110.21. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Zendesk, Inc. (NYSE:ZEN) traded up $0.17 during trading hours on Friday, hitting $34.38. The company had a trading volume of 934,300 shares, compared to its average volume of 1,060,000. Zendesk, Inc. has a 12-month low of $19.77 and a 12-month high of $35.89.
Zendesk (NYSE:ZEN) last released its earnings results on Wednesday, November 1st. The software maker reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.04. Zendesk had a negative return on equity of 32.50% and a negative net margin of 27.43%. The firm had revenue of $112.79 million during the quarter, compared to analysts’ expectations of $109.19 million. During the same quarter last year, the business posted ($0.04) earnings per share. The firm’s revenue was up 39.7% on a year-over-year basis. analysts forecast that Zendesk, Inc. will post -1.03 EPS for the current fiscal year.
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A number of research firms recently commented on ZEN. ValuEngine cut Zendesk from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Piper Jaffray Companies set a $33.00 price objective on Zendesk and gave the company a “buy” rating in a research report on Saturday, August 5th. BidaskClub cut Zendesk from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. UBS AG reiterated a “neutral” rating and set a $38.00 price objective (up previously from $37.00) on shares of Zendesk in a research report on Thursday, November 9th. Finally, Canaccord Genuity upped their price objective on Zendesk from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $34.13.
Several large investors have recently added to or reduced their stakes in ZEN. BlackRock Inc. grew its position in shares of Zendesk by 81,570.3% during the first quarter. BlackRock Inc. now owns 5,702,221 shares of the software maker’s stock worth $159,888,000 after purchasing an additional 5,695,239 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Zendesk in the 2nd quarter valued at approximately $137,975,000. JPMorgan Chase & Co. increased its stake in Zendesk by 77.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,110,503 shares of the software maker’s stock valued at $58,629,000 after buying an additional 923,875 shares during the period. Wasatch Advisors Inc. increased its stake in Zendesk by 26.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 3,919,479 shares of the software maker’s stock valued at $108,883,000 after buying an additional 820,465 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Zendesk by 755.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 827,334 shares of the software maker’s stock valued at $24,083,000 after buying an additional 730,570 shares during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.
Zendesk, Inc (Zendesk) is a software development company. The Zendesk family of products is built to work together to help organizations understand and manage customer relationships. All Zendesk products share a common interface and are being developed to support a shared services infrastructure and common customer data platform.
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